Banking
Malaysia — Banking: Online Banks
Malaysia has five licensed digital banks: GXBank, Boost Bank, AEON Bank, Ryt Bank, and KAF Digital Bank, which collectively served 2.4 million customers and held RM4.2 billion in deposits by end of 2025. GXBank (750,000+ customers) offers daily interest, no monthly fees, no minimum balance, and no transaction charges, and GXBank Biz is the only digital bank in Malaysia with a fully live public business account. Boost Bank focuses on personal savings (daily-interest savings account, goal-based savings jars, debit card) and SME financing, but does not offer a dedicated business current account. All digital bank deposits are protected by PIDM up to RM250,000 per depositor.
VerifiedGovernment / official sourceBank Negara Malaysia (digital banking licenses)Last reviewed: 2026-07-19
Key facts
- Five licensed digital banks: GXBank, Boost Bank, AEON Bank, Ryt Bank, KAF Digital Bank — 2.4M customers, RM4.2B deposits (end 2025).
- GXBank: 750,000+ customers, no fees/minimum balance/transaction charges; GXBank Biz is the only live public digital business account.
- Boost Bank: personal savings + SME financing, no dedicated business current account.
- All digital bank deposits protected by PIDM up to RM250,000 per depositor.